5026 COLBY AVE 2018-01-02 MF Import

H • Name of Project: / v r t'--ey • Construction Site Ad9tre s S"�3 a � C.e3 / h l v e, Permit_Reference: rc. Kri+cr /�vZ /�� S • ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT For: . (describe, improvements) �� , / l o i S r is c-. h-•C: air l 1)`e 14/a/ • a 21-•r e Xr S T l)4 y -e 0)y • ' Improvements to be installed per City standards by 19 • We hereby agree that the sum of• LH -z 7404,s4?,/ Dollars ( . /� fjq p , ca0 • ) will be held in Escrow Account No. 70-021769 -0 in • ct &oi & k(hereinafter referred to as "Bank") whose address it Z62' a/1 &Verte2t$C,W 912,e/ , in the name of e 0,1, 717 cbi'Key to assure performance of the above-described improvements and guarantee that 44 these funds will not be released without prior written approval from the City of Everett Public Works Department (hereinafter referred to as "City"). We agree that upon completion of the 'installation of the above-described improvements per City standards and approval by the City, • the City will provide written notice to the Bank authorizing the release of • these funds. We further agree that these funds will. be released to the City • upon notice by the City that the improvements have not been installed per City standards. Provided further, however, that in the event the above-described improvements are installed per City standards and a certificate of partial compliance is signed by the City, then in that event, we are further instructed to release progress payments for the amount of improvements installed per City standards and approved by the City. The City ,shall have first claim and priority to the remaining balance of said sum of• On--e 7 ce.s k cl.. Dollars ( / ca a . G0 )• 5/88 • twif OW . a